Page 62 - BAA CAFR 2017

BIRMINGHAM AIRPORT AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS

NOTE 10 PENSION PLAN (CONTINUED)

Deferred Outflows/(Inflows) Recognized in Future Years

FYE June 30, FYE June 30, FYE June 30, FYE June 30, FYE June 30,
2018 2019 2020 2021 2022

Fiscal Year Outflows
Liability loss $ 1,889,173 $ 1,889,173 $ 1,889,173 $ - $ -
Investment loss 5,400,949 5,400,949 - - -
Assumptions 14,936,512 14,936,512 14,936,512 - -
Liability loss 3,292,981 3,292,981 3,292,981 3,292,981 -
Investment loss 14,215,463 14,215,463 14,215,463 - -
Assumptions 63,821,180 63,821,180 63,821,180 63,821,180 -
Proportionate share (Authority) 284,179 284,179 284,179 284,179 -
Proportionate share (Authority) 18,817 18,817 18,817 18,817 18,817
Total Outflows $ 103,859,254 $ 103,859,254 $ 98,458,305 $ 67,417,157 $ 18,817
Fiscal Year Inflows
Proportionate share (City) $ (284,179) $ (284,179) $ (284,179) $ (284,179) $ -
Liability gain (5,197,625) (5,197,625) (5,197,625) (5,197,625) (5,197,625)
Investment gain (7,645,274) (7,645,274) (7,645,274) (7,645,274) -
Assumptions (50,830,714) (50,830,714) (50,830,714) (50,830,714) (50,830,714)
Proportionate share (City) (18,817) (18,817) (18,817) (18,817) (18,817)
Total Inflows $ (63,976,609) $ (63,976,609) $ (63,976,609) $ (63,976,609) $ (56,047,156)
Total $ 39,882,645 $ 39,882,645 $ 34,481,696 $ 3,440,548 $ (56,028,339)

Detailed Development of Pension Expense for the Year Ended June 30, 2017

Service cost $ 61,202,895
Interest on Total Pension Liability 81,787,344
Employee contributions (14,030,922)
Administrative expenses 284,778
Expected return on assets (71,626,072)
Expensed portion of current year period differences between expected
and actual experience in Total Pension Liability (5,197,627)
Expensed portion of current year period assumption changes (50,830,716)
Current year plan changes --
Expensed portion of current year period differences between projected
and actual investment earnings (7,645,273)
Current year recognition of deferred inflows and outflows established
in prior years 103,556,258
Total expense $ 97,500,665

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